Northmarq’s Philadelphia Debt + Equity team arranges refinances of 2 apartment buildings in PA totaling $39.35M

PHILADELPHIA (March 24, 2025) — Northmarq’s Philadelphia Debt + Equity team led by John Banas and Kris Wood successfully completed a combined $39.35 million in refinancing for two central Pennsylvania multifamily housing communities:

• Pioneer Woods (9 Lamppost Ln, Lancaster, PA)
  Rosedale Apartments (199 Cherry Dr, Hershey, PA)

Northmarq arranged the permanent-fixed rate financing on both opportunities on behalf of the borrower, Boyd Wilson, through its in-house Fannie Mae DUS platform. Each transaction was structured with 10-year terms.

“Boyd Wilson has been a great, long-term client of ours. Rosedale and Pioneer Woods are perfect examples of the excellent job their team does on owning and operating quality assets.” said Banas.

Built in 1974 and featuring 160 units, Pioneer Woods is situated on 30 sprawling acres surrounded by farmland in Lancaster County. It offers residents privacy and tranquility along with stunning views of the scenic countryside. The one-, two- or three-bedroom units feature central air conditioning, an in-home wash/dryer, 24-hour on-call emergency maintenance, a deck or patio, fully-equipped kitchens and private entrances to select homes. Two-bedroom townhomes are also available.

Community features include maintenance-free landscaping, off-street parking, common green space, pet stations, two community playgrounds, a picnic area, and an outdoor BBQ and firepit.

Rosedale Apartments, built in 1972 and featuring 160 units, offer a small, intimate community tucked away in a quiet area yet minutes from downtown Hershey. One- and two-bedroom apartments feature central air conditioning, plank flooring, fully-equipped kitchens, 24-hour on-call emergency maintenance, an in-home washer/dryer, and private entrances for select homes.

Community features include a swimming pool, clubhouse, off-street parking, common green space, a cardio fitness room, tennis court, pet stations, a dog park, and a bike repair station. The apartments are near neighborhood restaurants, shopping, groceries, and healthcare.